The company previously owned a 51 percent stake in the Atlas Elektronik group and has now acquired the remaining 49 percent which were held by Airbus.

“The global market environment is getting more and more complex and the requirements for integrated security concepts are rising,”Peter Feldhaus, CEO of thyssenkrupp Marine Systems said. “That’s why we are repositioning thyssenkrupp Marine Systems as an integrated systems provider to give us strategic advantages in the global market for submarines and naval surface vessels.”

Following this acquisition, TKMS will be the sole German stakeholder in a company formed with Norwegian Kongsberg. The new, Norway-based company was formed following the Norwegian ministry of defense’s decision to award a submarine construction contract to TKMS.